It may seem that an MBA in healthcare management and an MBA in healthcare administration are the same degree program because of the similarity in their names. While they cover many of the same areas, these are two very different programs that take students down distinct career paths.
A healthcare management MBA prepares you to manage the general operations and business concerns of a healthcare-related organization.1 On the other hand, a healthcare administration MBA degree program prepares you to manage and lead the staff of a healthcare institution.1 Take a closer look at both programs to help you decide which is right for you.
Healthcare Management MBA
Healthcare management is involved with the business of running a healthcare organization such as a hospital, skilled nursing facility, rehab center, medical services office or even a research institution or health insurance organization.2
Professionals working in healthcare management focus on healthcare policy, finance, accounting and facilities management.3 In addition, you manage budgets, supervise record keeping, negotiate contracts with vendors and oversee facilities maintenance.
Healthcare Administration MBA
Where healthcare management centers more on running an institution, healthcare administration focuses on managing people — namely, the medical staff in a healthcare organization such as a hospital, a physicians’ services group, skilled nursing facility, hospice provider, rehab center, outpatient clinic or other medical institution.4
MBA healthcare administration salaries are increasing, and employment opportunities are projected to grow much faster over the next few years than for many other occupations.5
Average salaries for professionals in healthcare administration include:
- Executive director: $61,823 to $169,694.6
- Director of operations: $77,190 to $150,201.6
- Chief nursing officer: $100,557 to $200,549.6
- Nursing home administrator: $64,416 to $115,922.6
- Practice administrator: $59,522 to $124,162.6
Some of a healthcare administrator's tasks include identifying and recruiting high-quality medical talent, hiring and managing physicians and other medical staff, managing human resource budgets and ensuring that staff members comply with medical regulatory requirements.7
If a career in healthcare administration appeals to you, consider pursuing an MBA. Pursuing an healthcare administration MBA degree allows professionals to go further in their careers than peers with only a bachelor’s degree.8
Our growing and changing healthcare industry requires qualified professionals who are leaders in healthcare as well as business. As a graduate of the Benedictine University Online MBA in Health Care Administration, you could be ready to assume a leadership role in healthcare administration. Request more information or call (866) 295-3104 to speak to a program manager.
References
1 "Is there a career difference between healthcare management and healthcare administration?" Top Masters in Healthcare. http://www.topmastersinhealthcare.com/faq/is-there-a-career-differences-between-healthcare-management-and-healthcare-administration/ (accessed February 20, 2017).
2 "What are the benefits of an MBA in healthcare management?” Healthcare Management Degree Guide http://www.healthcare-management-degree.net/faq/what-are-the-benefits-of-an-mba-in-healthcare-management/ (accessed February 26, 2017).
3 “Healthcare management vs. healthcare administration: Core differences.” MHA Degree. http://mhadegree.org/healthcare-management-vs-administration-core-differences/ (accessed February 20, 2017).
4 “6 awesome MHA healthcare administration careers.” MHA Degree. http://mhadegree.org/6-awesome-mha-healthcare-administrator-careers/ (accessed February 20, 2017).
5 "Occupational outlook handbook: Medical and health service managers.” U.S. Bureau of Labor Statistics. https://www.bls.gov/ooh/management/medical-and-health-services-managers.htm (accessed February 26, 2017).
6 “Master of business administration (MBA): Health care administration degree average salary.” PayScale. http://www.payscale.com/research/US/Degree=Master_of_Business_Administration_(MBA),_Health_Care_Administration/Salary (accessed February 21, 2017).
7 “Healthcare administration.” Explore Medical Careers. http://www.exploremedicalcareers.com/healthcare-administration/ (accessed February 20, 2017).
8 "A guide to careers in health administration." Public Health Online. http://www.publichealthonline.org/healthcare-administration/#context/api/listings/prefilter